Sep 19, 2025 9:00 AM Eastern Daylight Time
– Goldman Sachs and Meta join partnership for dual 172 MW solar project/237 MW storage project in Lamar County, Texas –
PLANO, Texas–(BUSINESS WIRE)–Nexus Renewable Power LLC (“Nexus”) today announced the closing of a series of transactions that together represent approximately $220 million of project funding for MRG Goody Solar and Storage (“Project Goody”), a 171.72 MWac solar project combined with a 237 MWh storage project located in Lamar County, Texas.
Goldman Sachs is making a preferred equity investment into Project Goody to support the hybrid tax equity financing. Nexus also executed a tax credit purchase agreement with respect to Project Goody. Meta is the power offtaker for the project, which will help match its data center electricity use with clean and renewable energy.
This aggregate financing complements the previously-announced $300 million construction-to-permanent financing facility with HPS Investment Partners, and the $100 million Nexus-Bad Carbon carbon credit financing joint venture.
“Nexus is proud to be working with strong partners on Project Goody and is looking forward to long term relationships with each of them,” said Sargon Daniel, CEO of Nexus Renewable Power LLC. “Our focus on having strong partners is one the ways we distinguish ourselves in the ERCOT market and enables us to focus on operating these assets for the long haul”.
“Our partnership with Nexus Renewable Power LLC demonstrates the benefits of our integrated approach across financing and commodity risk management products. By providing the preferred equity investment, as well as being able to combine power markets intelligence and offtake transaction structuring, Goldman Sachs is able to provide sponsors like Nexus with a unique and comprehensive solution tailored to their needs,” said Sarah Kiernan, co-head of Global Commodities Sales and Global Commodities Financing & Structured Trading at Goldman Sachs.
“We’re proud that Meta’s global data center operations are matched by 100% clean and renewable energy, and we are excited to bring more new renewable energy to the grid through this important partnership with Nexus and the Goody project,” said Urvi Parekh, Head of Global Energy at Meta.
Project Goody is currently under construction, with a scheduled commercial operation date in the fourth quarter of 2025. It is the first in a series of projects being developed and constructed by Nexus. The project will provide employment opportunities and economic benefits to Lamar County, creating hundreds of construction jobs and contributing millions in long-term tax revenue to support the local school district and the community at large.
Project Goody is named after, and honors the service of, Michael R. “Goody” Goodboe who died on November 24, 2020, from injuries sustained while serving his country overseas. He was a highly decorated Navy SEAL and served his country with distinction in multiple theaters including Iraq, Afghanistan, Eastern Europe, and Africa. He is remembered for his warrior spirit, sense of humor, and high standards for himself and his comrades.
CRC-IB (“CRC”) acted as financial advisor, and Sidley Austin LLP and Husch Blackwell LLP acted as legal counsel, respectively, to Nexus. Troutman Pepper Locke acted as legal counsel for Goldman Sachs.
About Nexus Renewable Power LLC
Nexus is a Texas-based company that develops, finances, and operates solar and energy storage assets. With a lean organization, Nexus takes a targeted development approach and is currently constructing two solar + BESS facilities in ERCOT with a strategic, targeted series of projects slated for development and construction thereafter.
For more information, please visit https://nrenew.com/
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. For more information, please visit https://www.goldmansachs.com/.
Cautionary Language Concerning Forward-Looking Statements
This press release may contain forward-looking statements that may involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. These statements are based on current expectations and assumptions and are not guarantees of future performance. Readers are cautioned that any such forward-looking statements should be considered in light of these uncertainties. The company may update these statements, but disclaims any obligation to do so, except as required by law.
Contacts
Sargon Daniel
[email protected]